1. What is AltLayer? ( $ALT ) 👀
AltLayer is a decentralized Rollups-as-a-Service (RaaS) protocol, offering the possibility to launch highly scalable application-tailored execution layers (L2).
Rollups are layer-two solutions used to batch transactions off-chain before submitting them in bulk to the main chain. This helps to free the main chain from congestion and reduces gas fees.
AltLayer introduces the novel idea of modular rollups called Restaked Rollups. Essentially, a Restaked Rollup is a set of 3 vertically integrated Actively Validated Services (AVSes) that can be created on-demand on top of an underlying rollup stack.
Each AVS provides one of the following services:
Decentralized verification
Faster finality
Decentralized sequencing
🚂Let's break down each one of these…
2. AltLayer's AVSes 🤖
Each modular component specializes in one service.
2.1 VITAL for decentralized verification
L1-level security guarantee with fraud/ZK proof
Community involvement as verifiers/stakers
Permissionless verification with high availability/liveness
Fast verification and finality
2.2 MACH for fast finality
Fast finality(< 10s) compared to L1 finality(~13 mins)
Fast interoperability across rollups
Extra verification with shared security guarantee
MEV mitigation for rollups
2.3 SQUAD for decentralized sequencing
No single point of failure
More utility of rollup tokens for staking
Censorship mitigation
Involvement of community as sequencers/stakers
3.0 The ALT token economic model 🤑
The native token of the AltLayer ecosystem is the $ALT .
The ALT token serves 3 purposes:
Staking
Governance
Fees
ALT holders can stake their tokens to earn rewards, and staked ALT tokens can be withdrawn for ALT from the staking contract after a bonding period of 21 days.
3.1 reALT vault and restaking
Staked ALT tokens can be deposited into the reALT vault to become eligible to delegate to AltLayer LaunchPools.
LaunchPools allow users to earn project's upcoming tokens by staking specific tokens, such as reALT tokens, while the projects benefit from the initial funding and community support within the ALT ecosystem.
A great feature offered by the reALT vault is restaking. Rewards from ALT staking are automatically claimed and deposited back into the vault for staking on a weekly basis, creating a strong incentive for ALT holders to stake tokens to get compound yields.
The AltLayer reALT vault leverages the power of the EigenLayer's restaking mechanism, allowing AVSes to utilize Etherum's validation mechanisms. AltLayer plays a major role in the EigenLayer ecosystem as the core AVS publishing platform, largest node of AVS, and largest contributor and partner of EigenDA, the first AVS to launch on EigenLayer.
3.2 AltLayer Rollup Launchpad
Built on top of this protocol, AltLayer offers to everyone the tools to launch their own rollup through:
an SDK for developers who wish to manage their rollups themselves
a versatile no-code dashboard to spin up a customized rollup with only a few clicks
3.3 Ephemeral rollups
Another key innovation AltLayer brings to the table is ephemeral rollup.
Ephemeral rollups are highly resource-optimized rollups that give developers the best of an application-specific rollup and a general purpose Layer 1.
For instance, a dApp developer expecting an increase in demand for his application could:
Quickly spin up a fast and scalable application-tailored rollup secured by a Layer 1
Use the rollup for as long as needed
Dispose of the rollup by doing an “end-of-life” settlement on the Layer
Final words 🎉
As we have seen, the AltLayer ecosystem comes with a set of innovative solutions with the aim to foster Web3 adoption by offering the tools to make highly scalable application-tailored rollups supported by a restaking based tokenomic model.
